• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Home
  • Allowances
  • Expected DA
  • CSD
  • DOPT
  • Pensioners Issues

CENTRAL GOVT EMPLOYEES NEWS

Quick updates for CG Staff and CG Pensioners

  • Holiday Homes
  • Holidays
  • Railway Board Orders
  • TA DA Rules

LATEST CENTRAL GOVERNMENT EMPLYOEES NEWS
Central Government Holiday List 2024
Central Government Holidays 2023 PDF
7th Pay Commission AICPIN
42% DA Order for Central Govt Employees wef 01.01.2023 – Finmin Orders 2023
Revised Rates of HRA 27%, 18% and 9% from 01.01.2021 - Finmin Orders 2021


LATEST CENTRAL GOVERNMENT PENSIONERS NEWS
Last Date for Submission of Life Certificate for Central Govt Pensioners 2023 - 30.11.2023
OROP-2 Pension Revision Table 1 to 121 for Defence Pensioners wef 1.7.2019
Annual Increment Due on 1st July to the Employees Retiring on 30th June
Notional Increment on the Day of Superannuation
FR 56(j) of CCS (Pension) Rules age of 50 years or on Completion of 30 years of Service
Coverage under CCS (Pension) Rules CG employees appointment before and after 01-01-2004

7th CPC Advances to Central Government Employees

Central Govt Holiday List 2023 PDF | Holiday Calendar 2023 India

Table of Contents

    • Advances to Government Servants
    • Advances for Central Government Employees as per 7th CPC
    • Computer Advance to Central Government Servants
    • House Building Advance (HBA) to Central Government Employees
    • Festival Advance for Central Government Employees
    • Advances Rules in 7th CPC Pay Commission
    • Central Government Holiday List 2024 PDF
  • What is the current rate of computer advance for central government employees?
  • What is the current rate of housing building advance for central government employees?
  • What are advances for central govt employees under 7th CPC?
  • Who is eligible for Personal Computer Advance?
  • What is the rate of interest for personal computer advance during 2023-24?

Advances to Government Servants

7th Pay Commission Compendium Rules on Salary Advances to Central Government Employees

The 7th Central Pay Commission recommended that the two types of advances are granted to government employees such as interest free and interest bearing advances. The rate of interest on advances are being notified by the Government of India from time to time and the interest rates are prescribed for each financial year.

Advances for Central Government Employees as per 7th CPC

Computer Advance to Central Government Servants

Computer Advance Interest Rate from April 2023 to March 2024

9.1% Rate of interest for purchase of Computer during 2023-24 to Government Servants

  • Rate of interest for advance sanctioned to the Government servants for purchase of computer during 2023-24 i.e. from 1st April, 2023 to 31st March, 2024 – FinMin Order Dated 29.3.2023 [Click here to view the order in detail]
  • Rate of interest for purchase of Computer during 2022-23 Advances to Government Servants – Finmin Order dated 21.03.2022. [Click here to view the order in detail]
  • iPad comes under the definition of personal Computer for the purpose of grant of Computer Advance – Finmin Order Dated 13.6.2022. [Click here to view the order in detail]

House Building Advance (HBA) to Central Government Employees

7.5% Rate of interest for HBA during 2022-23 to Government Servants

The rate of interest on House Building Advance to Central Government Employees will be @ 7.5% for FY 2022-23 starting from 1st April, 2023 to 31st March, 2024. [Click here to view the order in detail]

Festival Advance for Central Government Employees

Rs. 10000 Special Festival Advance for Central Govt employees

Special Festival Advance Scheme is being revived as a one-time measure. All central govt. employees can now get an interest-free advance of Rs. 10,000, recoverable in a maximum of 10 installments. [Click here to view the order in detail]

Lending a specific amount of money without interest in order to tackle the expenses to celebrate the festivals.

Lending a specific amount of money with a meager interest to buy a computer or two-wheeler.

7th Pay Commission suggested to abolish all Interest-Free advances except Travelling Allowance Advance, LTC Advance and Medical Treatment Advance.

Advances Rules in 7th CPC Pay Commission

Interest Free and Interest bearing Advances are given below:

Interest Free Advances

  • Festival Advance
  • Travelling Allowance Advance
  • LTC Advance
  • Bicycle Advance
  • Warm clothing Advance
  • Medical Advance
  • Hindi course Advance
  • Flood Advance
  • Pay on Transfer Advance
  • Leave Salary Advance

Interest Bearing Advances

  • Scooter Advance
  • Computer Advance
  • Typewrite Advance
  • Car Advance
  • House Building Advance

Interest Free are given below after 7th Pay Commission…

  • Advance of Travelling Advance on Tour/Transfer
  • Advance of Leave Travel Concession
  • Advance of Medical Treatment

Interest bearing Advances are given below after 7th Pay Commission…

  • Personal Computer Advance
  • House Building Advance

Personal Computer Advance for Central Government Employees

The eligibility of personal Computer Advance for all Central Government Employees is Rs. 50,000 or actual price of PC, whichever is lower.

Computer advance can be availed for the purchase of personal computers or laptops. The maximum amount that can be availed is Rs. 50,000 or the actual cost of the device, whichever is lower. The repayment of the advance will be done in 60 monthly installments. The interest rate charged will be 9.1%. To avail this advance, employees need to submit a request to their respective department along with the cost estimate of the device they wish to purchase. Further details regarding the terms and conditions can be obtained from the concerned department.

Interest Rate for Personal Computer Advance of current year 2023-24

The central government has fixed interest rate for computer advance for the financial year 2023-24. As per the office memorandum issued by Department of Economic Affairs, Establishment Department under the Ministry of Finance, the interest rate for computer advance in FY 2023-24 has been fixed at 9.10 per annum. [Click Here to Read More]

Central Government Holiday List 2024 PDF

Interest Rate for Personal Computer Advance of current year 2022-23

The interest rate for the advance is 9.8%. The calculation of interest rate for the advance and repayment method are explained in another article. The computer advance will be allowed maximum five times in the entire service. [Click Here to Read More]

 : n/2 (a+1) x r/100 x 1/12

How to Calculate Interest for Personal Computer Advance

Personal Computer Advance Interest Calculation Formula – N/2 (A+1) x R/100 x 1/12

If an employee received Rs.30,000 as Computer Advance and he paid Rs. 500 per month with 60 installments:

60/2 (30000) x 9.8/100 x 1/12 = 7350

Eligibility for Computer Advance for Central Government Employees

  • The eligibility of personal Computer Advance for all Central Government Employees is Rs. 50,000 or actual price of PC, whichever is lower.
  • The Computer Advance will be allowed maximum five times in the entire service.

Applications for the grant of computer advance is invited from employees.

The conditions for the sanction for the PC Advance is as follows :-

The employees shall purchase only NEW computer in their own name only as per proforma invoice submitted by them with the application and produce the following documents to the BUDGET SECTION OF PERSONNEL BRANCH ONLY.

1. Original stamped Cash Receipt for the purchase of computer.
2. Guarantee/Warranty card.
3. Insurance documents.
4. Original Mortgage deed hypothecating computer to the President of India.

Terms and Conditions:

1. Prior permission should be obtained or intimation of purchase be given under conduct Rules wherever necessary.
2. Purchase of Computer should be made within one month from the drawl of advance. The cash receipt with GST and insurance should be produced for verification within one month of purchase or two months of drawl of advance. If the employee fails to do so the advance shall be refunded with the penal interest and the DAR action will be initiated.
3. If the employee purchased the computer for the lesser amount than the amount sanctioned amount sanctioned he should immediately surrender the excess amount drawn to the Railways failing which penal interest will be levied for the amount and action will be initiated against him/her under Railway Servants (Discipline and Appeal) Rules 1968.
4. The computer after purchase should be hypothecated to the government.
5. Prior sanction of the loan sanctioning authority is necessary for sale of the computer so long as the advance and interest thereon is outstanding.
6. Recovery of advance will start from first pay/ leave salary/ subsistence allowance after drawl of advance.
7. Simple interest at prescribed rates, calculated on monthly reducing balance basis will be recovered in one or more installments after the principal is recovered.
8. The present rate of interest is 9.1% PA.( Penal interest of 2.5% will be added for irregular payments Late submission of documents.
9. Even if repayment is made more than once in a month it will be taken as a simple payment in a month for arriving balance for interest calculations.
10. The computer should be insured till the completion of recovery of principal and interest of computer advance.
11. Employees should not avail finance from the dealer or any bank/ institution and hypothecating the computer to any, other authority/ agency is against the condition and hence they should remit the entire amount with interest to Railways immediately. Failure to which lump . sum recovery with penal interest will be made a id they are liable for disciplinary action under DAR.

What is Festival Advance?

This festival interest-free loan is intended to meet the unexpected expenses incurred during the festivities. The 7th CPC suggested abolishing the advance. Most of the employees are seeking modification in some advances in the 7th CPC. The NC JCM has also insisted on the Govt to restore the advance.

Rate of Interest for Advances

2015-16
Rate of Interest for Personal Computer Advance: 11.5%

2014-15
Rate of Interest for Motor Car Advance: 11.5%
Rate of Interest for Other than Motor Car Advance: 9%

2010-11
Rate of Interest for Motor Car Advance: 11.5%
Rate of Interest for Other than Motor Car Advance: 8%

2008-09
Rate of Interest for Motor Car Advance: 11.5%
Rate of Interest for Other than Motor Car Advance: 9%
Rate of Interest for Bicycle Advance: 5.5%

What is the current rate of computer advance for central government employees?

Interest Rate for Computer Advance to Government Servants is 9.1% in 2023-24 (1st April, 2023 to 31st March, 2024)

What is the current rate of housing building advance for central government employees?

Interest Rate for Computer Advance to Government Servants is 7.5% in 2023-24. (1st April, 2023 to 31st March, 2024)

What are advances for central govt employees under 7th CPC?

There are two types of Advances for Central Govt employees. One is interest-free advances and another one is interest-bearing advances.

Who is eligible for Personal Computer Advance?

All Central Government employees are eligible for Computer Advance of Rs. 50,000 or actual price of PC, whichever is lower.

What is the rate of interest for personal computer advance during 2023-24?

The rate of interest for Personal Computer Advance is 9.1% from 1st April, 2023 to 31st March, 2024.

ALSO READ:

  • Advance Payment of Salary and Pension to Central Govt Employees of Kerala and Maharashtra on the occasion of Onam on 25.8.2023 and Ganpati Festival on 27.9.2023 August 16, 2023Read more…
  • Payment of Salary and Pension on Account of Onam Festival for Kerala Central Government Employees before 29-8-2023 August 9, 2023Read more…
  • Computer Advance Interest Rate 2023-24 for Central Govt Employees April 1, 2023Read more…
  • Purchase an iPad by Availing Computer Advance to Central Govt Employees June 14, 2022Read more…
  • HBA Interest Rate 7.1% for Central Govt Employees from 1.4.2022 to 31.3.2023 April 9, 2022Read more…
  • Computer Advance Interest Rate from April 2022 to March 2023 March 22, 2022Read more…
  • Government Servants Special Festival Advance – Issuance of Pre-Loaded Rupay Cards January 6, 2021Read more…
  • Special Cash Package equivalent in lieu of LTC Fare for Central Govt Employees Availed up to 31.03.2021 November 5, 2020Read more…
  • Special Festival Package Advance Before Diwali to CG Employees November 5, 2020Read more…
  • Payment of Salary and Pension to Central Govt Employees and Pensioners before Durga Puja Dussehra – Confederation October 15, 2020Read more…

No related posts.

Primary Sidebar




Central Govt Employees News

7th CPC Pay Matrix Table for Central Government Employees
7th CPC Pay Matrix Table for Defence Employees
7th Pay Commission AICPIN
7th Pay Commission Children Education Allowance
7th CPC House Rent Allowance
7th CPC Advances to Central Government Employees
Central Government Employees Festival Advance
DA Chart for CG Employees and Pensioners
CGHS New Rate List in India 2023
CGHS Subscription as per 7th CPC for Central Govt Employees
CGHS Hospital List 2023
ECHS Empanelled Hospitals and Nursing Homes 2023
CSD Price List of Air Conditioner(ac)
Holiday Homes List 2023
List of Kendriya Vidyalaya in India 2023 PDF
KV School Holiday List 2023-24 PDF
50 New Kendriya Vidyalaya in India
Sainik School List in India 2023
Army Holiday Home in India State wise
List of Railway Holiday Homes 2023
Railway Board Orders 2023




Holiday List 2023 in India

Central Govt Holiday List 2023 PDF
Bank Holiday List 2023 India
CGHS Holiday List 2023
ESIC Holiday List 2023
Indian Customs Office Holiday List 2023
Indian Passport Office Holidays 2023
India Post Holiday List 2023 PDF
Indian Railway Board Holiday List 2023
LIC Office Holiday List 2023

State Govt Holiday List 2023

Andhra Pradesh Govt Holiday List 2023 PDF
Assam Govt Holiday List 2023 PDF
Bihar Govt Holiday List 2023 PDF
Chhattisgarh Govt Holiday List 2023 PDF
Delhi Govt Holiday List 2023 PDF
Gujarat Govt Holiday List 2023 PDF
Haryana Govt Holiday List 2023 PDF
Himachal Pradesh Govt Holiday List 2023 PDF
Jharkhand Govt Holiday List 2023 PDF
Karnataka Govt Holiday List 2023 PDF
Kerala Govt Holiday List 2023 PDF
Madhya Pradesh Govt Holiday List 2023 PDF
Maharashtra Govt Holiday List 2023 PDF
Manipur Govt Holiday List 2023 PDF
Meghalaya Govt Holiday List 2023 PDF
Mizoram Govt Holiday List 2023 PDF
Nagaland Govt Holiday List 2023 PDF
Odisha Govt Holiday List 2023 PDF
Punjab Govt Holiday List 2023 PDF
Rajasthan Govt Holiday List 2023 PDF
Sikkim Govt Holiday List 2023 PDF
Tamil Nadu Govt Holiday List 2023 PDF
Telangana Govt Holiday List 2023 PDF
Tripura Govt Holiday List 2023 PDF
UP Govt Holiday List 2023 PDF
Uttarakhand Govt Holiday List 2023 PDF
West Bengal Govt Holiday List 2023 PDF

Copyright © 2023 - Central Govt Employees News - cgstaffportal.in - Log in